Ten Rings Ltd is a small wholesale business selling premium jewellery boxes. The balance sheet at the end of December 2021 is shown below. (11) (111) (iv) (v) (vi) (vii) (viii) (ix) (xii) Assets Current Assets: Cash Accounts Receivable Inventory Non-current Assets: Office equipment - Cost Less Accumulated Depreciation Office equipment - Net Total Assets Ten Rings Ltd - Balance

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 Q1(a)Template for Journal Entries: Date Dr Cr Dr S Crs Note: Cash inflow from operating () 1-Jan Dr Cash 10,000 Cr Accounts Rola Template for Journal entries continued: Date Dr Cr Dr S Crs Note: (v11 8-Jan (v111 20- Jan 22- Jan (1x) 28- Jan (x 29- JaQI Continued: (b) Prepare the following THREE financial statements, using the templates below: • Income Statement for the monQ1 (b) Continued: Ten Rings Ltd Statement of Cash Flows for the month of January 2022 Operating Cash Flows Receipts from custQ1(b) Continued: Ten Rings Ltd Balance Sheet as at 31 January 2022 Assets $Liabilities and Owners Equity $$ Current AssetsQi Continued: (c) Explain why Ten Rings Ltds profit in the Income Statement does NOT equal Total Operating Cash Flows from  
 
 
Related Book For  answer-question

Statistics for Engineers and Scientists

4th Edition

Authors: William Navidi

ISBN: 978-0073401331